High Court Confirms ITAT Decision on Amalgamated Company's Unabsorbed Loss and Depreciation Claim Under SICA and Income Tax Act.

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....Claim of unabsorbed business loss, depreciation of amalgamated company - Order passed by BIFR u/s 32(2) of SICA r.w.s.72A(2)(ii) of IT Act - ITAT did not commit an error in confirming the disallowance of depreciation amounting in excess of the amount allowed by the BIFR - HC....